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leader eric cantor have just arrived at capitol hill where all eyes are on the house. as we await act on the bill that passed by the senate early this morning and averts across the board tax hikes and massive spending cuts set to kick in today. brand new hour of "america's newsroom." thank you for joining us. i'm heather childers in for martha maccallum. rick: i'm rick folbaum in for jon. happy new year. >> you will stick it to the rich people. but guess what? you may not get anymore revenue and anymore economic growth but you can say i stuck it to the rich people. >> i'm dis.ed we did not get a grand bargain we tried to do so long but we tried. passing this agreement does not mean negotiations halt, far from it. we can all agree there is more work to be done. heather: chief congressional correspondent mike emanuel is live on capitol hill for us. mike, any sense of the next steps on the house side of the capitol? >> reporter: heather, you mentioned speaker of the house john boehner and majority leader eric cantor are on the hill on the way in. no decision has been made whether they ta
it and send it back is what eric cantor and others wanted. the problem with sending it back is there would be no one to send it to. the senate left the building. the house would have gone back and said we're going to keep our apbldz in. what speaker boehner did is join the minority of republicans. he voted, so 85 republicans said yes, but 172 said no. essentially they violated their own unwritten hastert rule and used the majority of democrats to pass this bill. longtime conservatives see it as a rau for the president. >>steve: even in the leadership of the republican party you've got john boehner and paul ryan voting for it. then you've got eric cantor, the majority whip, voting against it. at the core, all the republicans had to hold their nose because they do not as a party like the idea of taxes going up on anybody. now the way it stands is if you are very successful and you make at least $400,000 a year, your taxes are going to go up to about 40%. for everybody watching this program now, your payroll taxes are going up. last year it was about 4.2% exactly, and starting this morning it
to the tea party. i have bad news for the tea party. and for party president's whether it is eric cantor from virginia, the majority leader in the house, or the president, but neither of them were elected to make all the roles and come to all the decisions. sort of middle ground will live to be found. simpson-bowles does not provide it. i will give you example. they raise the retirement age by a year or two very slowly. the retirement age task ago to 70 or there's no way out on social security. numbers tell us that. it is that simple. at the same time, its only marginally increases the retirement age and creates a new benefit for high stress occupations. 1,722,000 people would qualify, but all experience with these things, whether you are a republican from georgia or a liberal democrat from manhattan, as soon as a law like that gets passed, people become creative in finding ways to qualify. out of the woodwork, all the folks that would qualify. at the end of the david acton & social security age for everybody was truly disabled and let the market take care of its. people in stress occupations
on the house side. speaker boehner voting for the bill. and eric cantor voting against the bill. the house whip voting against the bill and paul ryan voting for the bill. this is a real split. >> it is. it shows the schism and a real good demonstration of why it was so difficult for speaker boehner to negotiate a bigger, grander deal with the president. he was unable to get his own deal through the house a few weeks ago, and the negotiated deal that passed with overwhelming bipartisan support. 89 votes in the senate, didn't get the majority of the republicans in the house to sign on. what you are seeing is the difficulty played out for everyone to see of how difficulty it is for speaker boehner to get these kinds of bills passed through the house. >> quickly, given the schism that you outlined, this is the last day of the 112th congress and tomorrow is the big day for john boehner. how is it looking for them? >> i think it looks fine for him. a lot of grumbling among folks. he allowed everyone to vote their conscious. no one got forced into voting for something they didn't want to. we avoided t
republicans and john boehner and eric cantor in particular. jon: that's what we're talking about. let me play for you what senator tom harkin said just a bit ago. we opened the senate session this hour with senate majority leader harry reid who basically said we're still talking but no progress or no real progress to report. didn't say much very frankly. then senator harkin took the microphone. here is what he had to say. >> if we're going to have a deal, the deal has to favor the middle class, the real middle class, those making 30, 50, 60, $70,000 a year. that is the real middle class in america. and as i see this thing developing, quite frankly, as i have said before, no deal is better than a bad deal. this looks like a very bad deal the way this is shaping up. jon: ron, what about that plan b bill that the house passed or you know, what was considering, that would have raised taxes on those making a million dollars and up? >> well that is what is confusing me is that we want, republicans want to save taxpayers as many taxpayers as possible. we want to save them as at the same time we're l
chairman paul ryan did vote in favor of the bill while eric cantor and congressman mccarthy voted against it. responding quite positively to that news, doug responding less positively. the dow jones up 180 and nasdaq up 50 points and s&p 24 points and ftse up 500 points -- not 500 points. and you can see the ftse up 2% on this news and look at what happened there in asia. hang seng up almost 3%. one clarification, i think i may have misspoken when i said all of this lasting one year. what i was describing was extension of unemployment benefits, that lasts one year. these other taxes and cuts and increases are now permanent. >> the fiscal cliff a verdict for now. now, we can look forward to something with the debt ceiling in the next two months. joining us in washington is former oklahoma governor frank keating and ceo of the american bankers association. joining us from philadelphia, former pennsylvania governor, ed rendell, also a cnbc contributor. i have to tell that joke again, governor. what do you call 47 millionaires sitting around watching the super bowl? >> i give up. >> the phila
expected on friday. a statement from house speaker john boehner and majority leader eric cantor said getting aid to the victims of hurricane sandy should be the first priority and the house will vote friday to direct needed resources to the national flood insurance program and on january 15, the first full legislative day of the 113th congress the house will consider the remaining supplemental requests. that a statement from house speaker boehner. two hours ago, new jersey governor chris christie held a news conference on speaker boehner's decision to not hold a vote yesterday on a bill to help victims of hurricane sandy. >> good afternoon. when hurricane sandy made landfall on august 24, 1992, congress and president bush 41 responded within 31 days with a federal aid package. when hurricane gustav made landfall in 2008 and hurricane ike 12 days later, congress and president bush 43 responded in 17 days with a federal aid package. when hurricane katrina made landfall on august 29, 2005, congress and president bush 43 responded with an initial 62.3 billion aid package in 10 days. hurr
Search Results 0 to 6 of about 7